Financials Changzheng Engineering Technology Co.,Ltd

Equities

End-of-day quote Shanghai S.E. Other stock markets 18:00:00 2024-06-27 EDT			5-day change	1st Jan Change
11.97 ^CNY	+1.18%		-0.25%	-16.70%

04-29	Changzheng Engineering Technology Co.,Ltd Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
04-19	Changzheng Engineering Technology Co.,Ltd Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Fiscal Period: December	2022	2023	2024	2025	2026
Capitalization ¹	6,410	7,702	6,416	-	-
Enterprise Value (EV) ¹	6,410	7,702	6,416	6,416	6,416
P/E ratio	38.6 x	41.1 x	22.6 x	19 x	16 x
Yield	-	-	-	-	-
Capitalization / Revenue	-	2.74 x	2.11 x	1.92 x	1.77 x
EV / Revenue	-	2.74 x	2.11 x	1.92 x	1.77 x
EV / EBITDA	-	32.1 x	21.5 x	17.9 x	15.1 x
EV / FCF	-	-	-	-	-
FCF Yield	-	-	-	-	-
Price to Book	-	2.35 x	1.84 x	1.71 x	1.59 x
Nbr of stocks (in thousands)	535,990	535,990	535,990	-	-
Reference price ²	11.96	14.37	11.97	11.97	11.97
Announcement Date	23-04-21	24-04-19	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2022	2023	2024	2025	2026
Net sales ¹	-	2,807	3,043	3,344	3,627
EBITDA ¹	-	239.6	299	358	426
EBIT ¹	-	193.8	291	349	418
Operating Margin	-	6.9%	9.56%	10.44%	11.52%
Earnings before Tax (EBT) ¹	-	193.5	291	349	418
Net income ¹	167.1	187.2	281	336	403
Net margin	-	6.67%	9.23%	10.05%	11.11%
EPS ²	0.3100	0.3500	0.5300	0.6300	0.7500
Free Cash Flow	-	-	-	-	-
FCF margin	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-
Dividend per Share	-	-	-	-	-
Announcement Date	23-04-21	24-04-19	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-
Net Cash position	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-
Free Cash Flow	-	-	-	-	-
ROE (net income / shareholders' equity)	-	5.84%	8%	9%	10%
ROA (Net income/ Total Assets)	-	-	5%	5.5%	6.1%
Assets ¹	-	-	5,620	6,109	6,607
Book Value Per Share ²	-	6.100	6.520	6.990	7.550
Cash Flow per Share	-	0.7000	-	-	-
Capex ¹	-	129	80	75	87
Capex / Sales	-	4.61%	2.63%	2.24%	2.4%
Announcement Date	23-04-21	24-04-19	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

11.97 CNY

Average target price

15 CNY

Spread / Average Target

+25.31%

	1st Jan change	Capi.
CHANGZHENG ENGINEERING TECHNOLOGY CO.,LTD	-16.70%	883M
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QUANTA SERVICES, INC.	+17.74%	37.2B
CHINA STATE CONSTRUCTION ENGINEERING CORPORATION LIMITED	+10.40%	30.41B
FERROVIAL SE	+9.81%	28.4B
CHINA RAILWAY GROUP LIMITED	+14.79%	20.75B
WSP GLOBAL INC.	+14.69%	19.41B
CHINA COMMUNICATIONS CONSTRUCTION COMPANY LIMITED	+33.62%	17.22B
EMCOR GROUP, INC.	+69.47%	17.16B